Nearly a third of the nation’s working families earn salaries so low that they struggle to pay for their necessities, according to a new report. The ranks of the so-called working poor have grown even as the nation has created new jobs for 27 consecutive months and is showing other signs of shaking off the worst effects of the recession. “Although many people are returning to work, they are often taking jobs with lower wages and less job security, compared with the middle class jobs they held before the downturn,” said a report released Tuesday by the Working Poor Families Project. 70 percent of low-income families and half of all poor families were working by 2011, the report said. The problem is they did not earn enough to cover their basic living expenses. 37 percent of the nation’s children — 23.5 million — were part of working poor families in 2011. Half of all American workers earn $505 or less per week. At this point, one out of every four American workers has a job that pays $10 an hour or less. Today, the United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.
Many of the occupations experiencing the fastest job growth during the recovery have been the ones that also pay poorly. Among them are retail jobs, food preparation, clerical work and customer assistance. In 2011, the top fifth of working families had incomes that were 10.1 times greater than those in the bottom fifth of income earners. The best means for climbing the income ladder — improved education — is growing more uncertain and more expensive, the report said. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs. Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low income jobs. According to one survey, 77 percent of all Americans are now living paycheck to paycheck at least part of the time. Low income families spend about 8.6 percent of their incomes on gasoline. Other families spend about 2.1 percent.
20.2 million Americans that spend more than half of their incomes on housing. 40 percent of all Americans have $500 or less in savings.
Productivity has continued to rise unabated while wages have stopped growing. In effect, the workers who built a productive America stopped getting paid for their efforts. A minimum wage linked to productivity would be $21.00 per hour. The number of families in the United States living on 2 dollars a day or less more than doubled between 1996 and 2011.
The wealthiest one percent of all Americans households on average have 288 times the amount of wealth that the average middle class American family does. The average CEO now makes approximately 350 times as much as the average American worker makes. In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.The bottom 60 percent of all Americans own just 2.3 percent of all the financial wealth in the United States.The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined. According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined. A higher percentage of children is living in poverty in America today than was the case back in 1975.
http://articles.washingtonpost.com/2013-01-15/business/36343636_1_jobs-with-lower-wages-fastest-job-growth-families
http://theeconomiccollapseblog.com/archives/35-statistics-about-the-working-poor-in-america-that-will-blow-your-mind
Many of the occupations experiencing the fastest job growth during the recovery have been the ones that also pay poorly. Among them are retail jobs, food preparation, clerical work and customer assistance. In 2011, the top fifth of working families had incomes that were 10.1 times greater than those in the bottom fifth of income earners. The best means for climbing the income ladder — improved education — is growing more uncertain and more expensive, the report said. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs. Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low income jobs. According to one survey, 77 percent of all Americans are now living paycheck to paycheck at least part of the time. Low income families spend about 8.6 percent of their incomes on gasoline. Other families spend about 2.1 percent.
20.2 million Americans that spend more than half of their incomes on housing. 40 percent of all Americans have $500 or less in savings.
Productivity has continued to rise unabated while wages have stopped growing. In effect, the workers who built a productive America stopped getting paid for their efforts. A minimum wage linked to productivity would be $21.00 per hour. The number of families in the United States living on 2 dollars a day or less more than doubled between 1996 and 2011.
The wealthiest one percent of all Americans households on average have 288 times the amount of wealth that the average middle class American family does. The average CEO now makes approximately 350 times as much as the average American worker makes. In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.The bottom 60 percent of all Americans own just 2.3 percent of all the financial wealth in the United States.The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined. According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined. A higher percentage of children is living in poverty in America today than was the case back in 1975.
http://articles.washingtonpost.com/2013-01-15/business/36343636_1_jobs-with-lower-wages-fastest-job-growth-families
http://theeconomiccollapseblog.com/archives/35-statistics-about-the-working-poor-in-america-that-will-blow-your-mind
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